• $21 billion hedge fund BlueMountain Capital is axing its long-short equity fund after only 2 years and firing several portfolio managers

    5 monthes ago - By Business Insider

    BlueMountain Capital is ending its long-short equity strategy, a source close to the firm tells Business Insider, only two years after starting it.
    The firm is firing several portfolio managers on the equities team after recruiting talent from hedge funds like Leon Cooperman's Omega Advisors and Citadel alum Anand Parekh's Alyeska Investment Group over the last year.
    The firings are not related to the firm's decision to double down on its bet on troubled California utility company PG&E in November, the source tells Business Insider.
    $21 billion hedge fund BlueMountain Capital Management is...
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